New Franchise Disclosure Register aims to help franchise buyers

Prospective franchisees can now call upon a handy new tool when deciding on what franchise to invest in.

A new government-hosted website, the Register, provides a list of franchise companies active in Australia. Anyone researching a brand, or a specific industry, can use the Register to find detailed information about the franchises, allowing them to compare important information about different franchises, such as costs and contract terms. This is a mandatory listing for franchised brands across the country, and some information must be provided.

What type of info will be found on the Register:

• how long a franchise has been operating in Australia
• how many businesses are in operation: the number of franchise outlets, and franchisees – and corporate business units
• each state / territory with a franchisee
• whether there are restrictions on where franchisees can source goods or services
• costs payable by a franchisee to start the franchise
• ongoing payments a franchisee will need to make to the franchisor
• other payments payable by a franchisee
• the length of the franchise agreement
• whether a franchisee can renew the franchise agreement

Another great way to find information to evaluate the landscape of franchise and business opportunities, weigh up the pros and cons of franchising is to check Franchise Direct.

There are a lot of franchise opportunities in Australia, but you will need some assistance in picking the right investment for you. Hence, we are here to guide you every step of the way while you begin your franchise journey.